Taiba Investments GA to vote on purchasing Savola Group ‎shares for SR459.3 mln

The Board of Directors of Taiba Investments Company is pleased to invite its Shareholders to participate and vote in the Ordinary General Assembly Meeting no.41 (first meeting), which is scheduled to be held at (6:30) pm on Tuesday 13-09-2022G corresponding to 17-02-1444 AH .

General Assembly Meeting Agenda:

Voting on the businesses and contracts concluded between the company and Savola Group Comapny in which the Chairman Dr. Waleed Bin Mohammad Al-Issa has an indirect interest who is as a Director manager at Assila Investment company, which is one of the substantial shareholders of the two companies with exceeding of 5% of the capital for both of them. As well as the indirect interest for a board member Eng. Muhannad Bin Qusai Al-Azzawi who has a relative relation with a board member of Savola Group Company Eng. Moutaz Qusai Hassan Al Azzawi regarding the purchasing of all shares and the shares owned by Savola Group Company that is in Knowledge Economic City Company; where Savola Group Company owns 11.47% direct and indirect in the Knowledge Economic City Company (6.40% of direct ownership and 5.07% of indirect ownership through the Knowledge City Developers Company ( Limited Liability Company) with amount of (459,256,000) Four Hundred and Fifty Nine Million, Two and Fifty-Six Thousand Riyals.There are no preferential terms. (attached)

Shareholders registered in Tadawulaty services will be able to vote remotely on the assembly’s items, starting at 1:00 am on Saturday 14-02-1444AH corresponding to 10-09-2022 G. and until the end of the assembly time. Registration and voting via Tadawulaty services will be available and free of charge for all shareholders using the following link. www.tadawulaty.com.sa

Eligibility for Registering the Attendance of the General Assembly’s Meeting Ends upon the Convenience of the General Assembly’s Meeting. Eligibility for Voting on the Business of the Meeting Agenda Ends upon the Counting Committee Concludes Counting the Votes.

Quorum for Convening the General Assembly’s Meeting:

The validity of the Ordinary General Assembly Meeting is subject to the attendance of a number of Shareholders representing at least half of the share capital. Failing such a quorum at the first meeting, a second meeting will be held one hour after the end of the period declared for the first meeting. However, the second meeting will be valid irrespective of the number of the shares represented in it.